AQR Capital Management LLC Buys 9,898 Shares of Alamo Group, Inc. $ALG

Key Points

• AQR Capital Management LLC increased its stock holdings in Alamo Group, boosting its position by 47.4% during the first quarter, resulting in ownership of approximately 30,779 shares valued at $5,485,000.
• The CEO, Jeffery Allen Leonard, recently sold 2,500 shares of Alamo Group for roughly $555,475, representing a 6.11% decrease in his ownership position.
• Several analysts have upgraded their ratings on Alamo Group, with a consensus rating of "Buy" and an average price target of $234.00 following strong revenue performance in the last quarter.

AQR Capital Management LLC raised its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 47.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,779 shares of the industrial products company's stock after purchasing an additional 9,898 shares during the quarter. AQR Capital Management LLC owned 0.25% of Alamo Group worth $5,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC raised its holdings in Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 125 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after buying an additional 61 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Alamo Group by 31.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock worth $49,000 after buying an additional 65 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Alamo Group during the 4th quarter worth $79,000. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Price Performance

Shares of ALG stock traded up $2.76 during mid-day trading on Thursday, hitting $204.50. 89,058 shares of the stock traded hands, compared to its average volume of 70,082. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.05 and a beta of 1.10. The company's 50-day simple moving average is $216.60 and its 200-day simple moving average is $200.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.12). The firm had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. As a group, equities research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were given a $0.30 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 annualized dividend and a yield of 0.6%. Alamo Group's payout ratio is 12.22%.

Insider Transactions at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

ALG has been the subject of several recent research reports. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Baird R W raised shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Finally, DA Davidson reissued a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $234.00.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.